Matt Morris | CEO, Top One Trader's posts
No shortcuts to success, just hard work and hustle.
Jesse was highly successful but also lost his fortune several times. He was always the first to admit when he made a mistake, and when he lost money it came down to two potential culprits: The rules for trading were not fully formulated (not the case for most of his losses). The rules were not followed.
Who in India are the most renowned traders? Ashish Dhawan, Ashish Kacholia, Vijay Kedia, Premji and Associates, Radhakrishnan Damani, Rakesh Jhunjhunwala, Raamdeo Agrawal, Mukul Agrawal, Sunil Singhania, and Ramesh Damani are among the leading merchants in India.
Rakesh Radheyshyam Jhunjhunwala (5 July 1960 – 14 August 2022) was an Indian billionaire investor, stock trader, and Chartered Accountant. He began investing in 1985 with a capital of ₹5,000, with his first major profit in 1986.
1. George Soros. George Soros is a Hungarian-American businessman, author, and philanthropist. Soros also runs a hedge fund called the quantum fund which gave an average return of 30% from 1970 to 2000, making him one of the most successful investors of all time.
Warren Buffett is often considered the world's best investor of modern times. Buffett started investing at a young age, and was influenced by Benjamin Graham's value investing philosophy.
The Stock Trader
In his book, Jesse Livermore Boy Plunger: The Man Who Sold America Short in 1929, Tom Rubython describes Livermore as the man who made the most money in a single day and the man who lost the most money in a single day.
Some observers have regarded Livermore as the greatest trader who ever lived, but others have regarded his legacy as a cautionary tale about the risks of leverage to seek large gains rather than a strategy focused on smaller yet more consistent returns.
1. George Soros. George Soros, often referred to as the «Man Who Broke the Bank of England», is an iconic figure in the world of forex trading. His net worth, estimated at around $8 billion, reflects not only his financial success but also his enduring influence on global markets.
Trade with Major Partners. Canada returned to its position as the top U.S. trading partner in 2021, after dipping below China and Mexico in 2020. China fell to second place and Mexico to third, followed by Japan and South Korea as the fourth- and fifth-largest U.S. trading partners in 2021, respectively.
While some traders have been successful in becoming millionaires through scalping trading, many others have lost money and blown up their trading accounts. It is important to note that trading carries significant risks, and traders should only trade with money they can afford to lose.
If a person trades for excitement or social proofing reasons, rather than in a methodical way, they are likely trading in a gambling style. If a person trades only to win, they are likely gambling. Traders with a "must-win" attitude will often fail to recognize a losing trade and exit their positions.
In modern marketing, the prime motive of a seller is to know about the needs of the consumer and fulfil those. Thus, the customer is considered as the 'king'.
A successful scalper is usually someone who has fast reflexes and can make rapid trading decisions. They cope well in high-pressure environments, with remarkable control of their emotions. They are well-versed in technical analysis and understand the importance of managing risk effectively.
George Soros is perhaps the most renowned trader in the world, famous for “breaking the Bank of England” in 1992. His audacious bet against the British pound earned his fund over $1 billion in a single day.
Swing trading is most suitable for beginners due to this low speed.
According to English records, his personal worth is estimated to be worth 8 million rupees, a substantial amount of money at the time. He has been variously described as a "merchant prince," and a "plutocrat." The business activities of Virji Vora included wholesale trading, money lending, and banking.